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RTS: 15 YEARS OF DEVELOPMENT Annual Report 2009 Full screen Search Print Page 2 of 126 ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER ADDRESS OF THE RTS CHAIRMAN OF THE BOARD BACKGROUND OF THE RTS GROUP AND RTS CHIEF EXECUTIVE OFFICER MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY Dear shareholders, clients and partners, objectives were met, with the cash equities trading rising by more than MAIN AREAS OF DEVELOPMENT 5 times in 2009 compared to the 2008 figures, and reaching ISSUER RELATIONS Last year was a difficult time for the global economy. Despite the USD54.2 billion. INDEX PROJECTS IN 2009 challenging and turbulent economic environment, RTS Stock In autumn, the RTS Index calculation methodology was updated. CO-OPERATION WITH AUTHORITIES AND Exchange managed to do fairly well during the reporting period — the PROFESSIONAL MARKET PARTICIPANTS trading volume on all RTS markets hit a record high of USD799.3 Starting from November 2, 2009, prices for the 17 most liquid stocks billion as of the end of the year. from the RTS Index base are sourced from RTS Standard, and the MAJOR INTERNATIONAL PROJECTS RTS Index calculation is extended to 11.50 pm. MSK. These steps RTS PROJECTS IN THE CIS COUNTRIES In 2009 the Russian cash equities market showed one of the fastest have facilitated increasing the representativeness of the main cash MARKET DATA SALES growth rates in the history of the RTS Index calculation. Inspite of the equities market benchmark in Russia and have enabled market RTS MARKETS: 2009 RTS Index falling below 500 points in February, it posted a 128.6% participants to take into account the trends seen on global trading increase for the year and closed at 1,444.61 points on December 31, platforms during the evening trading session. DEPOSITORY SERVICES 2009. Comparable RTS Index growth rates were only seen in 1996 DEVELOPMENT OF CLEARING AND (141.8%) and 1999 (197.4%). On January 18, 2010, the RTS Index Family was broadened with the SETTLEMENT TECHOLOGIES OF RTS start of RTS Standard Index calculation. This ruble-denominated cash SETTLEMENT SERVICES The rise of the leading benchmark of the Russian cash equities market equities index is calculated from trades prices and quotes for the top CORPORATE MANAGEMENT was paralleled by the dynamic development of the RTS Group. In 15 most liquid stocks of the Russian stock market. On February 15, COMMITTEES AND COMMISSIONS 2009, we implemented a number of cutting-edge technology projects 2010, a futures contract on the RTS Standard Index was introduced. that have contributed to the infrastructural development of the Russian IINFORMATION TECHNOLOGIES AND In 2009 the trading volume on the derivatives market FORTS (futures SOFTWARE and CIS cash equities markets. and options on RTS) nearly doubled to exceed 474 million contracts. HR POLICY In April, RTS launched trading on RTS Standard, a new cash equities In accordance with the annual rankings published by the Futures PUBLIC ACTIVITIES AND EDUCATIONAL market. For the first time in 10 years, the investors community was Industry Association (FIA), FORTS was rated 9th among the Top PROGRAMS offered a technology for trading in top liquid securities that was 10 derivatives markets worldwide. CHARITY completely new for the Russian market featuring: settlement on T+4; FINANCIAL RESULTS anonymous trading with Central Counterparty’s guarantees, Throughout the year we have been actively developing the range of consolidated cash positions with the derivatives market FORTS and an financial instruments offered on FORTS. Futures contracts on PLANS FOR 2010 evening trading session running till 11.50 pm MSK. This platform was EUR/USD and EUR/RUB exchange rate that were launched in early APPENDICES primarily introduced to optimize the Russian cash equties market February won the award for "best innovation in product design GLOSSARY infrastructure and to enhance the liquidity growth on the cash equities 2009 — Eastern Europe", given by the leading magazine in derivatives side during the post-crises recovery period. These targets and markets, Futures & Options World (FOW). According to the research ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER OJSC RTS. ANNUAL REPORT 2009 Full screen Search Print Page 3 of 126 ADDRESS OF THE RTS CHAIRMAN OF THE conducted by FOW the FX contracts on EUR/USD and EUR/RUB In line with our strategy for geographic footprint expansion, the BOARD AND RTS CHIEF EXECUTIVE OFFICER exchange rate have entered the list of top liquid financial derivatives Ukrainian Exchange (Kiev, Ukraine) and the Eurasian Trading System BACKGROUND OF THE RTS GROUP introduced globally in 2009. (Almaty, Kazakhstan) went live in 2009 as parts of the RTS Group. From the very start of trading both platforms managed to attract a lot MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) The existing precious metals product line of the FORTS commodities of domestic investors and by the end of 2009 won over a significant section was completed with futures contracts on platinum and share of the local market in their respective segments. POSITION IN THE INDUSTRY palladium. The Brent futures contract which is the most liquid MAIN AREAS OF DEVELOPMENT instrument in the commodities section was awarded as the ‘Best New Today the RTS Group is a well-structured financial institution with a ISSUER RELATIONS Instrument Promotion Project’ at the 8th Elite of the Securities Market huge potential for stable operation in any economic environment. In INDEX PROJECTS IN 2009 competition. 2009, the Russian financial market was put to a test. However, the expertise that we have developed over the past several years enabled CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS On January 1, 2010, the federal law “On amending part I and part II of us to ensure timely settlements and performance of obligations during the Tax Code of the Russian Federation and specific legislative acts of the recent downturn. We believe that starting from 2010 the securities MAJOR INTERNATIONAL PROJECTS the Russian Federation” came into force, clarifying taxation of market will be on the rise, and we will be there to offer a wide choice of RTS PROJECTS IN THE CIS COUNTRIES individuals trading in futures and options which had been obscure since financial products and services catering to sophisticated needs of our MARKET DATA SALES the origin of the derivatives market in Russia. We are convinced that market participants. RTS MARKETS: 2009 these changes will encourage individual investors to enter the market. Thank you for your trust, your commitment and continued support. DEPOSITORY SERVICES RTS has been consistantly updating its technical and information systems. DEVELOPMENT OF CLEARING AND In summer 2009, RTS upgraded the trading system of FORTS to a new Sincerely yours, SETTLEMENT TECHOLOGIES OF RTS software version resulting in a 30% increase of its throughput. The SETTLEMENT SERVICES development of the new Plaza II software platform for trading and clearing Chairman of the Board of Directors, OJSC RTS Stock Exchange, CORPORATE MANAGEMENT systems was completed in 2009, and in February 2010 implementation Jacque Der Megredichyan was started. RTS also tested a new service for dissemination of COMMITTEES AND COMMISSIONS anonymous market data via the FIX FAST protocol. Migration to this Chief Executive Officer, OJSC RTS Stock Exchange, IINFORMATION TECHNOLOGIES AND protocol will facilitate trading for Bloomberg terminal users. R.Yu. Goryunov SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER OJSC RTS. ANNUAL REPORT 2009 Full screen Search Print Page 4 of 126 ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY MAIN AREAS OF DEVELOPMENT BACKGROUND ISSUER RELATIONS INDEX PROJECTS IN 2009 OF THE RTS GROUP CO-OPERATION WITH AUTHORITIES AND PROFESSIONAL MARKET PARTICIPANTS MAJOR INTERNATIONAL PROJECTS RTS PROJECTS IN THE CIS COUNTRIES MARKET DATA SALES RTS MARKETS: 2009 DEPOSITORY SERVICES DEVELOPMENT OF CLEARING AND SETTLEMENT TECHOLOGIES OF RTS SETTLEMENT SERVICES CORPORATE MANAGEMENT COMMITTEES AND COMMISSIONS IINFORMATION TECHNOLOGIES AND SOFTWARE HR POLICY PUBLIC ACTIVITIES AND EDUCATIONAL PROGRAMS CHARITY FINANCIAL RESULTS PLANS FOR 2010 APPENDICES GLOSSARY Full screen Search Print Page 5 of 126 ADDRESS OF THE RTS CHAIRMAN OF THE BOARD AND RTS CHIEF EXECUTIVE OFFICER BACKGROUND OF THE RTS GROUP BACKGROUND OF THE RTS GROUP MAIN EVENTS OF 2009–2010 (JANUARY-FEBRUARY) POSITION IN THE INDUSTRY The RTS Group is a vertically integrated Russian stock exchange 1999 Not-for-profit partnership “Russian Trading MAIN AREAS OF DEVELOPMENT holding that provides a full range of services for securities and System” Stock Exchange” teamed up ISSUER RELATIONS derivatives trading. with Saint Petersburg Exchange, and INDEX PROJECTS IN 2009 RTS members obtained access to trading CO-OPERATION WITH AUTHORITIES AND The RTS Group encompasses Joint-stock company «RTS Clearing Gazprom shares on Saint Petersburg PROFESSIONAL MARKET PARTICIPANTS Center», Non-Banking Credit Organization Settlement Chamber RTS, Exchange using RTS Workstations. Closed Joint Stock Company "Depository Clearing Company", Joint MAJOR INTERNATIONAL PROJECTS Stock Company “UKRAINIAN EXCHANGE” (Kiev, Ukraine), Eurasian 1999 RTS began to publish dynamically updated RTS PROJECTS IN THE CIS COUNTRIES Trade System Commodity Exchange Joint Stock Company (Almaty, market data delayed by 15 minutes on its MARKET DATA SALES Kazakhstan), Clearing house ETS Ltd (Almaty, Kazakhstan), Open web-server. RTS MARKETS: 2009 Joint-Stock Company «SAINT PETERSBURG EXCHANGE», CJSC SKRIN, “RTS — Tender” Limited Liability Company (OJSC “RTS Index 1999 RTS's web-server was awarded a certificate DEPOSITORY SERVICES Agency”). The core of the RTS Group is Open Joint Stock Company in the Finance and Economics section at the DEVELOPMENT OF CLEARING AND “Russian Trading System” Stock Exchange.
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